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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- Recent gains in EURHUF gains are considered corrective. The technical condition remains bearish and the downtrend that started Dec 31 is intact. The recent breach of 356.32, Jan 25 low opens 353.15 next, a major support and Dec 14 low.
- Key resistance is at 361.14, Jan 27 high where a break is required to alter the picture.
- EURPLN continues to trade closer to recent lows despite today's recovery. The focus remains on support at 4.4657, 76.4% of the rally between Dec 9 - Dec 31.
- Initial firm resistance is seen at 4.5092, the 20-day EMA.
- USDZAR weakness extends. The pair has breached support at 14.7667, Jan 21 low. The break lower highlights scope for a test of 14.5037, Dec 25 low where a break would confirm a resumption of the broader downtrend that has been in place since Apr 6, 2020.
- Key short-term resistance is at 15.1258, Feb 4 high.
- USDTRY bearish conditions continue to dominate. The recent extension lower exposes 7.00, an important psychological round number. The 20-day EMA at 7.2658 marks a firm resistance.
- USDRUB is off recent highs and weaker again today. The pair has traded through 73.9111, 76.4% of the rally between Jan 14 - 28. This has exposed 73.0665, Jan 4 low. Key resistance and the bull trigger has been defined at 76.4997, Jan 28 high. Initial resistance is at 74.8816, the 20-day EMA.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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